Latest ABS news

  • FIG buyers focus on lower capital targets as UniCredit presents AT1

    Investors looking at UniCredit’s new additional tier one (AT1) trade on Wednesday will have been pleased to learn that the firm’s capital requirements have fallen by 50bp. Meanwhile, covered bonds are set to remain well supported, and the equity tranches of NPL portfolios look likely to offer securitization investors oversized returns next year.

    • 12:15 PM
  • Cleveland Fed responds to P2P research criticism

    Dr Loretta Mester, president of the Cleveland Federal Reserve, has denied that the release of a controversial research paper comparing peer-to-peer (P2P) lending to the pre-crisis subprime mortgage industry was aimed at disrupting the passage of lender friendly legislation proposed by congressman Patrick McHenry.

    • 12 Dec 2017
  • OnDeck grows finance team with balance sheet experts

    Online small business lender OnDeck has hired a pair of senior executives with expertise in asset disposal strategy and balance sheet optimization.

    • 12 Dec 2017
  • Tesla prices latest solar ABS offering as secondary trading grows

    Tesla priced the latest securitization from its SolarCity subsidiary on Friday, pushing total solar ABS volume beyond $1.5bn in 2017 as secondary market activity begins to build.

    • 11 Dec 2017
  • ABS participants shrug off FHA policy reversal

    The Federal Housing Administration (FHA) reversed a July 2016 decision to insure new mortgages on properties with Property Assessed Clean Energy (PACE) assessments in an announcement Thursday, but ABS sources say it is only a blip.

    • 11 Dec 2017
  • Lending Club to wind down 2017 with non-prime offering

    Lending Club filed deal documents midweek for a securitization backed by non-prime consumer loans, the fourth deal to surface from the online platform's CLUB shelf this year.

    • 07 Dec 2017
  • UK opens new market for student loan ABS

    The UK government has successfully issued its debut £1.7bn securitization of UK income contingent student loans. Although not to everyone’s taste, it was designed for specific groups of investors that have not typically bought ABS, and set a strong precedent for a planned series of follow-on transactions. Bill Thornhill reports.

    • 07 Dec 2017
  • Green ABS ripens with PACE secondary growth

    An active secondary market has sprouted in the residential Property Assessed Clean Energy (PACE) ABS sector after two years of watershed growth. A growing volume of tradeable assets is expected in 2018. But the outlook is not so rosy for every area of green securitization, writes Sasha Padbidri.

    • 07 Dec 2017
  • Wendy's deal may not mean hot ‘n' juicy whole biz mart in 2018

    Fast food chain Wendy's priced its latest securitization on Wednesday, bringing the volume of whole business deals in the US to over $7bn this year. But sources said that despite the attractions of ABS over vanilla bond issuance, a slow maturation cycle could lead to a quiet 2018 pipeline for the asset class.

    • 06 Dec 2017
  • Rare subprime credit card issuer heads to market

    A subprime credit card securitization from Continental Finance surfaced this week to give the yield-hungry something to chew on. But few similar servings are likely to follow given the lack of subprime debt available to be securitized since the financial crisis.

    • 06 Dec 2017

ABS news archive

Capital markets data from GlobalCapital

Go to GlobalCapital's Securitization data pages for our dealflow database, plus details of priced European and US CLOs and structured finance bookrunner league tables.

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 119,693.92 344 12.91%
2 Bank of America Merrill Lynch 99,935.46 287 10.78%
3 Wells Fargo Securities 88,155.55 263 9.51%
4 JPMorgan 69,113.88 208 7.46%
5 Credit Suisse 51,260.05 154 5.53%